Analysts Expect Mattel, Inc. (NASDAQ:MAT) Will Post Quarterly Sales of $1.88 Billion
Wall Street analysts expect that Mattel, Inc. (NASDAQ:MAT) will post $1.88 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Mattel’s earnings. The highest sales estimate is $1.92 billion and the lowest is $1.85 billion. Mattel posted sales of $1.80 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.4%. The business is expected to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Mattel will report full year sales of $1.88 billion for the current year, with estimates ranging from $5.50 billion to $5.69 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.71 billion per share, with estimates ranging from $5.44 billion to $5.98 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Mattel.
Mattel (NASDAQ:MAT) last posted its earnings results on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.05. Mattel had a return on equity of 11.62% and a net margin of 4.51%. The company had revenue of $974.50 million during the quarter, compared to the consensus estimate of $972.36 million. During the same period last year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis.
A number of brokerages have issued reports on MAT. UBS AG restated a “buy” rating and set a $29.00 price target on shares of Mattel in a research note on Friday, May 19th. BMO Capital Markets restated a “buy” rating on shares of Mattel in a research note on Wednesday, June 7th. B. Riley restated a “buy” rating and set a $30.50 price target on shares of Mattel in a research note on Wednesday, April 26th. DA Davidson lowered shares of Mattel from a “buy” rating to a “neutral” rating and cut their price target for the company from $30.00 to $24.00 in a research note on Thursday, June 15th. Finally, Jefferies Group LLC restated a “hold” rating and set a $19.00 price target on shares of Mattel in a research note on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.53.
In other news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the transaction, the chief executive officer now owns 116,788 shares in the company, valued at $2,290,212.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division raised its stake in Mattel by 0.3% in the first quarter. Moody National Bank Trust Division now owns 20,672 shares of the company’s stock valued at $529,000 after buying an additional 57 shares in the last quarter. Bollard Group LLC raised its stake in Mattel by 1.5% in the first quarter. Bollard Group LLC now owns 4,200 shares of the company’s stock valued at $108,000 after buying an additional 62 shares in the last quarter. Cleararc Capital Inc. raised its stake in Mattel by 0.8% in the first quarter. Cleararc Capital Inc. now owns 8,394 shares of the company’s stock valued at $215,000 after buying an additional 69 shares in the last quarter. Ffcm LLC raised its stake in Mattel by 0.9% in the first quarter. Ffcm LLC now owns 13,168 shares of the company’s stock valued at $338,000 after buying an additional 116 shares in the last quarter. Finally, Sentry Investment Management LLC raised its stake in Mattel by 0.6% in the first quarter. Sentry Investment Management LLC now owns 25,692 shares of the company’s stock valued at $658,000 after buying an additional 145 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.
Shares of Mattel (MAT) opened at 18.78 on Tuesday. Mattel has a 52-week low of $18.63 and a 52-week high of $34.24. The company has a market cap of $6.44 billion, a P/E ratio of 26.94 and a beta of 0.84. The firm has a 50-day moving average of $20.84 and a 200-day moving average of $23.75.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 annualized dividend and a yield of 3.19%. Mattel’s dividend payout ratio is presently 220.29%.
Mattel Company Profile
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International, and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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